Barkly Rare Earths (ASX:BAK) has targeted a December quarter resource update following progress at its flagship Northern Territory project.
The company has completed 45 holes for over 1,000m as part of its 10,000m phase-one resource expansion drilling program at the Barkly Project.
Drilling has targeted shallow extensions around the existing 40 million tonne (Mt) @ 2,100 parts per million (ppm) total rare earth oxide (TREO) inferred mineral resource.
As the operation has overcome early ground and groundwater challenges, conditions have begun improving and drilling momentum growing. The company expects first laboratory assay results in the coming weeks.
Managing Director Craig Wright says the program is testing shallow growth potential around the existing resource.
“We’re pleased with the steady progress of the phase one drilling program, which is testing shallow growth potential around our existing 40Mt inferred mineral resource,” Wright notes.
“Early ground and groundwater conditions challenged the drill crew, but drilling rates are improving rapidly and samples are now moving through to the laboratory.”
The existing inferred mineral resource was defined from 46 drill holes for 755m and contains 82,000 tonnes of TREO above a 430ppm neodymium‑praseodymium cut‑off grade.
The company’s exploration target ranges from 200Mt to 1,000Mt at 1,600ppm to 1,900ppm TREO, representing potential extensions beyond the current resource in mapped, near‑horizontal Cretaceous sandstones.
The program comprises approximately 400 shallow holes averaging 25m deep, with the majority planned within the exploration target area. Samples are geologically logged at the rig, with laboratory assays to determine rare earth grades.
“We look forward to reporting the first laboratory assays in the coming weeks,” Wright adds.
Barkly Rare Earths plans a mineral resource update for the December quarter, subject to ongoing drilling and assay progress. The company will also conduct rare earths concentration and extraction testwork, geo‑metallurgical studies, and follow‑up exploration at its Buntine Project.
The Barkly Project spans 5,030km2 in the Northern Territory and includes a ‘high’ terbium component with low uranium and thorium. Initial conventional leaching tests achieved 74% magnet rare earth oxide extraction.
Write to JC Villarba at Mining.com.au
Images: Barkly Rare Earths
